The FTC commissioner fired by Trump says that his dismissal should worry the markets

One of the two Democratic commissioners of the Federal Commerce Commission to whom President Donald Trump abruptly dismissed On Tuesday he warned that his expulsion could erode market stability.

“It’s not just about the FTC, and it’s not about my work,” former Commissioner Rebecca Kelly Slaughter on CNBC said Wednesday. “GRAZNATE IN THE STREET”

“It is about monitoring the ability of the FTC for police markets and ensuring that honest companies are protected, instead of allowing companies that lie and deceive to move forward,” he said.

“And it is not just the FTC, it is all government structures that protect market stability,” he said. “Then, markets that depend on the stability provided by government institutions should be very worried.”

Slaughter’s comments occurred in the midst of a period of heavy turbulence in the stock market, since investors fight uncertainty about Trump’s policy decisions.

He also spoke shortly before the Federal Reserve announced its last decision about interest rates.

“If I can be fired, I don’t know why Jerome Powell can’t be fired,” said Slaughter.

Slaughter and Álvaro Bedoya, the only other Democratic commissioner of the FTC, were fired by Trump on Tuesday. The Ousters left only two Republican commissioners in the agency, which has the task of enforcing the antitrust and consumer protection laws.

Both Democrats argued that Trump’s measure violated a federal law that indicates that commissioners can only be eliminated by cause, such as negligence or embezzlement in office.

Slaughter said in CNBC that the Supreme Court confident that law in 1935, establishing a precedent that “has not been violated for 90 years.”

But Andrew Ferguson, Trump’s republican election to replace Lina Khan as president of the FTC, said the president acted within his power.

“I have no doubt about their constitutional authority to eliminate commissioners, which is necessary to guarantee the democratic responsibility of our government,” Ferguson said in a statement on Tuesday.

When asked why Trump decided to say goodbye to the Democratic commissioners at this time, the White House Secretary, Karoline Leavitt, said: “Because it was the right time to let these people go, and the president absolutely has the authority to do so.”

“They were given a great warning in a letter that I think reported their departure,” Leavitt said. When asked if the objective of the administration is to revoke the precedent of 1935, Leavitt replied: “The goal was to let these people go. If we have to fight the Supreme Court, we will certainly do it.”

However, the two eliminated the commissioners called Trump’s move as “illegal.”

“This is a simple and plain corruption,” Bedoya wrote in X, accusing Trump of trying to convert the FTC into “a lapdog for his golf friends.”

Since assuming the position, Trump has worked to review the Government expelling Independent Agency chiefs and drastically size agencies through the dux initiative supervised by ELON ALMIZCLE.

On February 18, Trump signed a Executive order to give more power over independent regulatory agencies.

Four days before, Axios informed that Ferguson supported the opinion that the presidents can fire the chiefs of the independent agency at will.

Federal judges ruled In early March, Trump tried to erroneously eliminate two members of the Federal Board. The Trump administration is appealing those decisions.

Slaughter warned Wednesday that his “unprecedented” shot throws doubts and confusion in multiple active demands of the FTC.

“The commission is in active litigation against all companies, more or less, whose CEO flanked the president in its inauguration,” he said.